ING to Sell Italian Assets
To Unicredito, Aviva

By

Neil Moorhouse Dow Jones Newswires

Updated July 22, 2003 6:29 a.m. ET

AMSTERDAM -- ING Groep NV Tuesday said it will sell its Italian network of financial advisers, ING Sviluppo, and part of its other Italian operations to Italy's Unicredito Italiano SpA and the United Kingdom's Aviva PLC, for &euro;170 million ($192.9 million).

The sale comes as the Dutch bank and insurer is divesting noncore activities. ING spokesman Michiel Gosens said Unicredito is better placed to run the business and that ING...